Former Eagles receiver indicted for mortgage fraud

Most Read

While it is true that a timeshare contract is a binding legal document, it is often mistakenly thought that such a contract cannot only be cancelled. In fact, most timeshare companies maintain that their contracts are non – cancellable. This misconception is perpetuated by timeshare companies and user groups that are funded, maintained and controlled by the timeshare industry.

The FHA 203k loan program provides home buyers the opportunity to buy and fix up a property, without exhausting their personal savings.

A former Philadelphia Eagles wide receiver and his mother were indicted by a New Jersey grand jury today on charges of mortgage fraud.

Irving Fryar, who played for the NFL between 1984 and 2000, was charged along with his mother with conspiring to steal more than $690,000 by defrauding banks into granting home equity loans, the Times of Trenton (N.J.) reported.

Authorities say that Fryar, 51, and his 72-year-old mother, Allene McGhee, took out five mortgage loans over six days in 2009, using McGhee’s home for collateral in each case, the Times reported. Fryar and McGhee also falsified information to obtain the loans. The banks involved funded the loans thinking they held the first lien on the property, according to prosecutors.

Prosecutors allege that Fryar, now a high school varsity football coach and Baptist minister, received or spent more than $200,000 of the loan money, according to the Times.

“It is disappointing that someone with an illustrious career in professional sports who now is a minister and coach in the community is charged with this crime, but he must face justice like anyone else,” Acting N.J. Attorney General John Hoffman said in a news release.
Fryar has been suspended without pay from his coaching job, the Times reported.

Fryar and McGhee have each been charged with second-degree conspiracy and theft by deception. If convicted, they could each face five to 10 years in prison and a fine of up to $150,000.